Bendigo and Adelaide Bank 2H16 result

Bendigo (BEN.ASX) 2H16 result confirmed that underlying operating conditions remain challenging. Revenue grew by 2% compared to the 1H16 and the outlook remains challenging with subdued volume loan growth and ongoing pressure on margins from competition and lower interest rates.  

FY17 outlook is for cash earnings of around $450m on EPS of $0.96 and dividend payout of $0.67 placing the stock on a forward yield of almost 6.8%.

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